"Bank of Baroda Shares Drop 2% Amid RBI's Mobile App Onboarding Directive"

Bank of Baroda's shares dip 2.61% to Rs 208.70 apiece due to RBI's directive.

[{"selector":"#anim-45bd17d7-9ecb-4349-827a-9d89d1c4a53c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-16.088222107004526%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d2e049fd-fb87-4a93-8854-d182570e375e","keyframes":{"transform":["translate3d(112.65823%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7d86fe18-59ea-4bb6-9ba7-d7fc939a1cc0","keyframes":{"opacity":[0,1]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3535bdad-b390-4f19-824c-90695d16f7d3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

State-owned lender Bank of Baroda faces a setback as RBI suspends customer onboarding

[{"selector":"#anim-f8fbf4fd-a386-4e84-a9e4-251563a8d66b","keyframes":{"transform":["translate3d(116.29393%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d562dc08-81ff-4045-bb1b-b10f10f065ec","keyframes":{"opacity":[0,1]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-048af554-3abd-405c-8ea6-ec06c4e83ba4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

RBI's section 35A directive impacts Bank of Baroda's 'bob World' mobile app.

[{"selector":"#anim-66ce1c13-8fc5-4cb2-850c-a4424afc885c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7165e3fe-81bc-4b1a-beeb-f12a383aa890","keyframes":{"transform":["translate3d(115.23810%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8da01ebd-3d70-420d-9dd8-bba17e38232b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-97ddbcf3-828c-44fb-b032-0fb6c5513df5","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

RBI's action prompted by supervisory concerns in customer onboarding via the app.

[{"selector":"#anim-64aa9ba3-9042-447f-b160-02bfd0e54541","keyframes":{"transform":["translate3d(115.18987%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0c4fbd4b-32b1-4315-926e-faee0f9e222f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7b031a22-0669-4e4e-a7a9-5899bd00eacc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Bank of Baroda mandated to address deficiencies before resuming onboarding

[{"selector":"#anim-ba899d91-155f-4e25-a374-9425eb0288af [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-17.051134096212422%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-b362d79f-1e87-4480-ba07-acf4750663e1","keyframes":{"transform":["translate3d(115.18987%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-86bc4a83-8459-44bd-b650-0dd04f55c5fa","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-69f4fac5-8bd7-426d-822d-78b4e98c5cf5","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

RBI emphasizes the need for strengthening processes for 'bob World' application.

[{"selector":"#anim-8322ef5e-1f47-4fc8-8833-932cf9bb268b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-05b22d4f-bd51-433d-8291-c06f5dea96a2","keyframes":{"transform":["translate3d(115.50632%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ff82b5e2-a7ef-49a1-abd7-d687a1b96387","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4ec4af82-04f0-4173-beda-efa194a053d2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The future onboarding of customers depends on the bank's rectification efforts.

[{"selector":"#anim-bab2887c-1316-40a9-ae7d-d3197fbd7029 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Customers already on 'bob World' app to be shielded from disruptions.

[{"selector":"#anim-2ad7cdff-439e-46a2-bd92-4f11decde05d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(1.4210854715202004e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-6d8a1f7a-bb8e-4a5c-877b-c66e7726e4a9","keyframes":{"transform":["translate3d(115.18987%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5bb9ef7c-855c-4f7c-8605-df4dc93351b3","keyframes":{"opacity":[0,1]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f48668e5-1aa3-4f46-b896-0cd73c74c44c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Bank of Baroda faces challenges as RBI takes stringent supervisory action.

[{"selector":"#anim-e611fbff-a4d4-4444-9236-390d12c0cdca","keyframes":{"transform":["translate3d(115.18987%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-90b39648-6673-49ae-a1b1-4b33123ae709","keyframes":{"opacity":[0,1]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a3df31fc-693f-4370-a37d-61be2be372b2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":500,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]